Global Face Recognition Device Market Growth 2019-2024

A facial recognition device stems from a purpose-built combination of high-end hardware components and efficient software to automatically identify or verify a person from a digital image, as required in several Security and Surveillance installations. The identification process is done by comparing the facial features extracted from an image with those previously stored in a facial database.
As for the global Face Recognition Device industry, the industry structure is relatively dispensable. The top three manufacturers have 20.37% revenue market share in 2017. The China giant Cloudwalk, which has 12.88% market share in 2017, is the leader in the Face Recognition Device industry. The manufacturers following Cloudwalk are Aurora and Insigma Group, which respectively has 4.18% and 3.31% market share globally.
Plus, China is the largest consumption area, accounting for 29.29% in 2017, and will reach 44.59% in 2023, with a CAGR of 29.53% during 2018-2023 largely owing to the publishment of A Next Generation Artificial Intelligence Development Plan.
The downstream industries of Face Recognition Device are government, banking and finance, travel, migration and criminal. In the recent years, with the rising awareness of security, the enlargement of commercial spending and unsolved high rate of criminal, the consumption increase of Face Recognition Device will be obvious. There is a huge potential need for the Face Recognition Device. In the foreseeable future, the Face Recognition Device will show an optimistic upward trend.
Although sales of Face Recognition Device bring a lot of opportunities, the study group recommends the new entrants who just have money but without technical advantage, raw materials advantage and downstream support, do not enter into the Face Recognition field hastily.

According to this study, over the next five years the Face Recognition Device market will register a 27.3% CAGR in terms of revenue, the global market size will reach US$ 4540 million by 2024, from US$ 1070 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Face Recognition Device business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Face Recognition Device market by product type, application, key manufacturers and key regions and countries.

This study considers the Face Recognition Device value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Handheld Devices
Fixed Devices
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Security and Protection
Transportation
BFSI
Others

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Cloudwalk
Aurora
Insigma Group
Herta
IDTECK Co Ltd.
Artec Group
CMOLO
Anviz
Adatis GmbH＆Co. KG
IDEMIA (France)
EnterFace
SenseTime
ColosseoEAS
Cognitec Systems
Bioenable

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Face Recognition Device consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Face Recognition Device market by identifying its various subsegments.
Focuses on the key global Face Recognition Device manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Face Recognition Device with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Face Recognition Device submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.